Indonesia Energy (NYSE:INDO) Trading Up 3.8% – Time to Buy?

Indonesia Energy Co. Limited (NYSE:INDO)’s stock price shot up 3.8% on Friday . The company traded as high as $3.06 and last traded at $3.03. 395,999 shares were traded during trading, a decline of 77% from the average daily volume of 1,741,369 shares. The stock had previously closed at $2.92.

Indonesia Energy Trading Up 3.8%

The firm has a fifty day moving average price of $2.85 and a 200-day moving average price of $3.54.

Institutional Investors Weigh In On Indonesia Energy

Large investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in shares of Indonesia Energy during the 4th quarter worth approximately $90,000. Two Sigma Investments LP increased its stake in Indonesia Energy by 18.0% in the third quarter. Two Sigma Investments LP now owns 29,892 shares of the company’s stock valued at $90,000 after acquiring an additional 4,550 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in Indonesia Energy during the first quarter valued at approximately $53,000. Virtu Financial LLC raised its position in Indonesia Energy by 50.2% during the fourth quarter. Virtu Financial LLC now owns 15,115 shares of the company’s stock valued at $44,000 after purchasing an additional 5,054 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Indonesia Energy during the second quarter worth $52,000. 0.51% of the stock is currently owned by institutional investors and hedge funds.

Indonesia Energy Company Profile

Indonesia Energy Corporation Limited (NYSE: INDO) is a coal-focused energy company principally engaged in the exploration, development and production of thermal coal resources in Indonesia. Headquartered in Jakarta, the company leverages Indonesia’s abundant coal reserves to supply power generation markets at home and abroad. Its business model centers on identifying high?quality coal seams, securing mining concessions, and advancing projects from exploration through to commercial production.

The company’s core assets are located in South Sumatra Province, where it holds adjacent coal concessions that offer access to steam coal suited for electricity generation.